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At the beginning of 2025, Layer-1 (L1) blockchain network Solana found itself in the spotlight, thanks to meme coins. 

Donald Trump’s Official Trump (TRUMP) meme coin launch on January 17 ignited a flurry of activity across the network, driving demand to levels unseen since the 2021 bull cycle. 

While these volatile assets boosted Solana’s network activity and pushed up SOL’s price, they also present a paradox. They have brought in liquidity, users, and attention—but at what cost?

Presidential Memes Pump Solana Into Overdrive

Solana’s cheap, lightning-fast transactions and highly composable DeFi infrastructure make it one of the most preferred blockchains for launching meme coins. So when newly elected Donald Trump launched his TRUMP meme coin on the network in January, it came as no surprise to many.

Following TRUMP’s launch on January 17, demand for Solana skyrocketed, driven on the one hand by developers eager to launch their own meme coins and on the other by the frenzy of trading activity surrounding them.

Melania Trump followed her husband’s lead by launching her MELANIA meme coin on the same chain two days later. This move exacerbated the meme hype and drove significant trade volumes across multiple meme coins, both existing and newly created.

For example, within a day of launch, MELANIA’s trading volume soared 396%, jumping from $1.33 billion to $6.6 billion, according to CoinGecko data. 

Solana Memes Took It to the Moon, Then Back Down

This development drove significant user engagement on Solana.  According to Glassnode, by January 24, the network was processing 832,000 active addresses per hour, over 26 times more than Ethereum, which recorded just 31,000 per hour.

Due to the huge influx of new users on the network, transaction fees rocketed. Per Glassnode, Solana’s total transaction fees climbed to an all-time high of $32.43 million on January 19 after MELANIA launched. On the same day, SOL climbed to an all-time high of $293. 

However, market exhaustion set in shortly after this price peak was reached. The meme coin mania began to fade, taking Solana users with it. Daily active addresses and new demand for the L1 plunged, dragging down DEX volume, SOL’s price, and DeFi TVL.

For example, SOL’s DEX volume hit an all-time high of $36 billion on January 19. But as the meme coin hype cooled off, by January 31, it had plummeted to just $3.8 billion, dropping nearly 90%. As of April 15, this totaled $1.5 billion.

Solana’s network revenue was not spared. Daily revenue, which rose to an all-time high of $16 million on January 19, plummeted to under $5 million by the end of January. Yesterday, the network’s total revenue from all transactions completed was under $115,000. 

Solana Has Bigger Plans, Analyst Says

While TRUMP, MELANIA, and the slew of other meme coins that launched on Solana in the first few weeks of the year drove unprecedented network activity and boosted SOL’s value, the drop in their values and overall trading volumes has impacted the network’s performance. 

It then raises the question of whether Solana’s actual value is now tied to this highly volatile, borderline chaotic asset class.

In an exclusive interview with BeInCrypto, Binance Research spokesperson Marina Zibareva noted that while these meme assets contributed to the network’s growth at the beginning of the year, Solana’s performance remains “increasingly driven by broader ecosystem fundamentals.”

According to Zibareva:

“We’ve seen DeFi TVL grow nearly 4x in SOL terms since January, and stablecoin supply has increased over 6x – pointing to lasting interest in real utility. Developer activity is also accelerating, with smart contract deployments rising almost 6x, suggesting strong long-term potential beyond the speculative wave.”

Although Solana’s inherent features make it a go-to destination for launching meme coins via platforms like Pump.fun, Jupiter, and Meteora, Zibareva sees a future for the network that stretches beyond meme coins. 

“Meme coins have brought attention and users, but the long-term trajectory likely points toward use cases like DeFi, DePIN, Gaming, and SocialFi. Solana’s daily active addresses have increased nearly 6x year-to-date, and with its infrastructure battle-tested, we expect to see more developer activity focused on sustainable value creation,” she added. 

The post Beyond the Meme Coin Frenzy: What’s Next for Solana After the Hype? appeared first on BeInCrypto.

Hyperliquid (HYPE) is showing strong technical signals across multiple indicators, with the token surging more than 15% in the last 24 hours. The platform continues to demonstrate impressive market performance, generating $47 million in fees over the past 30 days and outperforming major blockchain networks like Ethereum and Solana.

Technical indicators suggest a potential golden cross formation, meaning HYPE could test $21 or even $25.80 in the coming period.

Hyperliquid Revenue Places It Among Top Protocols In Crypto

Hyperliquid is currently one of the most successful protocols in crypto. Over the past 30 days, it has generated an impressive $47 million in fees and recently reached $1 trillion in perps volume.

While this places it behind major players such as Jito, Pumpfun, and PancakeSwap in terms of monthly revenue, Hyperliquid has surpassed significant blockchain apps and chains, including Solana, Ethereum, Raydium, and Phantom.

What makes Hyperliquid’s success particularly remarkable is that, unlike most other high-performing protocols that operate on established blockchain networks such as BNB, Solana, or Ethereum, Hyperliquid functions as its own independent chain.

With the exception of Tron, virtually all other major protocols rely on parent blockchains, whereas Hyperliquid has achieved its substantial revenue figures as a standalone entity.

Despite this impressive performance and unique positioning, HYPE has experienced considerable downward price pressure recently, trading below the $20 threshold for sixteen consecutive days, creating a notable disconnect between the protocol’s operational success and its market valuation.

HYPE DMI Shows Buyers Are In Control

The HYPE DMI (Directional Movement Index) chart shows promising momentum shifts, with the ADX (Average Directional Index) rising from 15.7 to 19, suggesting a strengthening trend conviction.

More significantly, the +DI (Positive Directional Indicator) has surged from 18 to 29.1, while the -DI (Negative Directional Indicator) has declined from 21.8 to 13.5. This crossover pattern, where +DI rises above -DI, typically signals a potential bullish reversal.

The increasing spread between these indicators and the rising ADX suggests that buying pressure is overcoming selling pressure, potentially setting the stage for HYPE to break above its recent sub-$20 trading range.

The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. Readings above 70 are typically considered overbought, and below 30 are considered oversold.

HYPE’s RSI climbing from 54.5 to 66 indicates growing bullish momentum that hasn’t yet reached extreme levels. This uptick suggests strengthening buyer interest while remaining below the overbought threshold of 70.

The fact that HYPE hasn’t reached overbought levels since December 2024 implies there may still be room for price appreciation before any potential pullback.

Together with the DMI indicators, this RSI reading reinforces the possibility of continued upward movement in HYPE’s price in the near term.

Will Hyperliquid Rise Above $20 This Week?

The HYPE Exponential Moving Average (EMA) lines are converging toward a potential golden cross formation, which occurs when a shorter-term moving average crosses above a longer-term one.

This technical pattern typically signals a strong bullish momentum shift that could propel HYPE to test its immediate resistance level at $17. Should buyers successfully break through this threshold, the path would open for HYPE to climb toward the $21 mark.

In scenarios where exceptional buying pressure materializes, Hyperliquid could extend its gains to challenge the significant resistance level at $25.80, representing a substantial recovery from its recent sub-$20 trading range.

Conversely, if the anticipated uptrend fails to materialize and bearish sentiment prevails, HYPE could experience renewed downward pressure, forcing it to test the critical support level at $12.43.

The importance of this support cannot be overstated, as a breach below this floor could trigger accelerated selling, potentially pushing HYPE under the psychologically significant $12 level for the first time since December 2024.

The post Hyperliquid (HYPE) Surges 15% as Indicators Signal Further Gains appeared first on BeInCrypto.

Cronos rallied 10% after Crypto.com announced a partnership with Trump Media to create new altcoin ETFs. Today’s announcement is a binding agreement that builds on earlier relationships.

​CRO is the native cryptocurrency of the Cronos blockchain, developed by Crypto.com. It serves as a utility token within the Crypto.com ecosystem, facilitating various functions such as staking, transaction fee payments, and accessing benefits across the exchange’s services.​

Crypto.com and Trump Media Officially Partner

Last month, Crypto.com announced a non-binding partnership with Trump Media. This saw increasing market interest in the token, but also attracted harsh criticism.

Specifically, the firm re-issued 70 billion CRO tokens that were “permanently burned” in 2021. The two companies just announced a binding agreement, but it caused smaller gains:

This new agreement between Crypto.com and Trump Media seems substantially similar to the last one. The two firms committed to launching new ETFs based on unspecified digital assets and “securities with a Made in America focus,” specifically mentioning energy firms.

Crypto.com has expressed interest in a CRO ETF, making it a likely target for this partnership.

“Crypto.com is the leading platform to bridge crypto and traditional finance, and this agreement is a testament to those capabilities. This partnership gives the Trump Media ETFs global distribution powered by the Crypto.com platform. It’s a win for Trump Media, Crypto.com, CRO, and Yorkville America Digital,” said Kris Marszalek, Co-Founder and CEO of Crypto.com.

On the surface level, it may look like SEC approval is the largest hurdle facing Trump Media and Crypto.com. The Commission has been flooded with applications since Trump took office, but no new altcoin ETFs have been approved yet.

As a report from yesterday alleged, various crypto firms have received tangible regulatory breakthroughs since donating to Trump’s Inauguration.

Several firms (including Crypto.com) had SEC investigations closed, while others, like Galaxy Digital, got the Commission’s approval for key business ventures.

Of course, Trump’s Presidency has promised a sweeping tide of pro-crypto regulations, so it could be unfair to single out specific firms as beneficiaries.

Further, an ETF approval is a big deal, and even a friendlier SEC might not give it easily. Whether or not the markets think the SEC would fast-track this product has no bearing on the actual outcome.

As ETF analysts have outlined, the entire market is saturated right now. There are 72 active proposals for new altcoin ETFs, but Bitcoin controls 90% of the crypto ETF market.

If a CRO ETF wins approval, it may be competing with a huge wave of newcomers over tiny chunks of BTC’s market share. Perhaps investors don’t see it as a likely option.

Overall, Trump and Crypto.com are doubling down on their partnership, and it could have big long-term implications. Any of the aforementioned factors (or a mix of several) might explain this outcome.

The post Cronos (CRO) Surges 10% As Trump Media Partners with Crypto.com for Altcoin ETFs appeared first on BeInCrypto.